BOOK:Breaking Out of Fragility : A Country Economic Memorandum for Diversification and Growth in Iraq
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BOOK:Breaking Out of Fragility : A Country Economic Memorandum for Diversification and Growth in Iraq
by GirlBye Wed Sep 30, 2020 10:22 am
Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises—including an oil price shock, the COVID-19 pandemic, and recent instability and protests—coupled with poor economic policies, a lack of reforms, and an inability to tackle corruption, Iraq is having its worst annual economic growth performance in 2020 since the fall of the Saddam regime.
But with every crisis comes an opportunity to reform. Iraq can embark on a long but much-needed path toward structural transformation, one that could leave its economy less dependent on oil and more driven by private sector activity. Such a path can no longer be avoided, as has been illustrated by the widespread protests since October 2019. This report highlights what Iraq can do to sustain future growth; it also shows why Iraq has not yet managed to achieve high levels of diversified growth alongside peace, stability, and a better standard of living for its people. Iraq’s high levels of fragility and conflict--reinforced by high oil dependency--hinder the country’s prospects for economic reform and growth.
Despite Iraq’s existing sociopolitical and economic environment, three encouraging messages emerge from this report. First, there is a peace dividend in Iraq. Iraq’s per capita GDP was about one-fifth lower in 2018 than it would have been if not for the conflict beginning in 2014. Thus, maintaining peace can by itself be a strong driver of growth. Second, Iraq has latent export potential for a variety of goods that, if tapped, could diversify the country’s economy, raise living standards, and boost economic resilience. Third, Iraqi agriculture could be revived to serve as a pillar of a more diversified and private sector–led economy.
Citation
“World Bank. 2020. Breaking Out of Fragility : A Country Economic Memorandum for Diversification and Growth in Iraq. International Development in Focus;. Washington, DC: World Bank.
World Bank. https://openknowledge.worldbank.org/handle/10986/34416 License: CC BY 3.0 IGO.”URI
http://hdl.handle.net/10986/34416
https://openknowledge.worldbank.org/handle/10986/34416
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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» Guru Pimpy: "lopping the zeros off the currency -bad. Removing it off the rate - good" (Earth Calling Pimpy... LOL) 6/21/21
» Judy: "Monday Morning 21 June banks all over the world would have the new currency rates" (So What Went Wrong This Time? LOL) 6/21/21
» Holly: "Those of us who provide information from sources take the backlash when those dates do not happen" (Stop Telling Lies Then LOL) 6/21/21
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» Frank26: "Look at all of those that are telling them to raise the value of their currency beside you" (Dinarians And Lying Gurus Count? LOL) 6/20/21
» Guru Pimpy: "I believe it's going to change too but not that dang soon" (Up Or Down? LOL) 6/20/21
» Kaperoni: "I assure you, Iraq has no intention to raise the value of the dinar under the current conditions" 6/20/21
» RayRen98: "The anticipated rates are as follows" (Where Does He Get This Stuff LOL) 6/20/21
» Holly: "all my sources are saying everything is done" (Bruce, Fleming, TNT Are Sources? LOL) 6/20/21
» Judy: "the UST received a sign off on the new RV rates of 22 Treasuries across the globe" (You Just Can't Make That Stuff Up, Or Can They? LOL) 6/20/21
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» Holly says -- From all sources this coming week should be the final release. I
» Frank26 says -- What is the plan? A new exchange rate.
» Bruce says -- front screen rate at the banks which will show up Monday morning after all new rates populate over the weekend either Saturday or Sunday –
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